Mermaid has strong balance sheet with low debt level. The temporary sell-down is just panic selling. From biz point of view, it should grow rapidly after major O&G contractors getting more projects and a lot orders coming soon. The low debt and potential high return should protect investor from downside.

Why Buy Mermaid?
1)Subsea engineering and drilling division underperforming, profitability in FY2010 is more likely to decrease. Current share price is trading at discount 40% to its average P/E ratio.
2)Current share price has stabilised in the USD70-USD80 per barrel range. When market condition improve, day rates in the subsea engineering division can adjust rapidly to any upwing in market rates.
3)Investment in offshort support vessels and ROVs at distressed price.
4)Right Strategies to turn around its business